The price per-kg of chicken and the quantity of chicken purchased per month in a household is tabulated below- Determine the type of correlation- begin array - c - c - Whine Price - kg - Rs - Quantity kg IIYhline40 - 6 lllhline50 - 5-5 Whhline60 - 3-5 lWhline70 - 3 Whline30 - 7-5 lllhline80 - 2 Whline e n d a r r a y A- Positive correlationB- Zero correlationC- Negative correlationD- Perfect correlation

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Standard XI

Statistics

Types of Correlation and Scatter Chart

The price per...

Question

The price per/kg of chicken and the quantity of chicken purchased per month in a household is tabulated below. Determine the type of correlation.

$\begin{matrix} P r i c e / k g (R s) & Q u a n t i t y (k g) 40 & 6 50 & 5.5 60 & 3.5 70 & 3 30 & 7.5 80 & 2 \end{matrix}$

Positive correlation

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Zero correlation

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Negative correlation

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Perfect correlation

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Solution

The correct option is C
Negative correlation

The given data can be represented on a scatter chart as shown below.

It can be seen that there is a negative correlation between quantity and price.

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What type of correlation is this?

The MR values at different price levels are given below. At what price is the revenue maximized?

$\begin{matrix} P r i c e (R s) & M R 8 & 10 7 & 7.5 6 & 4 5 & 0 4 & - 2 3 & - 5 2 & - 8 \end{matrix}$

At what price is the total revenue maximized?

Q. The data on price and quantity purchased relating to a commodity for 10 months are given below:Calculate coefficient of correlation between price and quantity.

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The quantity of goods supplied by a firm at different price points is given in the table below. Find the correlation coefficeint between price and quantity supplied.

$\begin{matrix} P r i c e (X) & Q u a n t i t y (Y) 6 & 20 8 & 25 10 & 30 16 & 35 20 & 40 \end{matrix}$

Q. Find the total cost of the items purchased.

\begin{matrix} I t e m & P r i c e p e r u n i i t & Q u a n t i t y & T o t a l P r i c e S u g a r & ₹ 44 / k g & 500 g M a n g o J u i c e & ₹ 33 / l i t r e & \frac{1}{2} O n i o n & ₹ 40 / k g & 750 g \end{matrix}

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The price per/kg of chicken and the quantity of chicken purchased per month in a household is tabulated below. Determine the type of correlation. Price/kg (Rs)Quantity (kg)406505.5603.5703307.5802

The correct option is C Negative correlation The given data can be represented on a scatter chart as shown below. It can be seen that there is a negative correlation between quantity and price.

The price per/kg of chicken and the quantity of chicken purchased per month in a household is tabulated below. Determine the type of correlation.

$\begin{matrix} P r i c e / k g (R s) & Q u a n t i t y (k g) 40 & 6 50 & 5.5 60 & 3.5 70 & 3 30 & 7.5 80 & 2 \end{matrix}$

The correct option is C
Negative correlation

The given data can be represented on a scatter chart as shown below.

It can be seen that there is a negative correlation between quantity and price.